Focused Wealth Management Inc Takes $46,000 Position in Eos Energy Enterprises, Inc. (NASDAQ:EOSE)

Focused Wealth Management Inc bought a new position in shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 15,500 shares of the company’s stock, valued at approximately $46,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of EOSE. Price T Rowe Associates Inc. MD lifted its position in Eos Energy Enterprises by 74.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 43,930 shares of the company’s stock valued at $46,000 after acquiring an additional 18,735 shares during the period. Cullen Frost Bankers Inc. increased its stake in Eos Energy Enterprises by 40.0% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 70,000 shares of the company’s stock valued at $89,000 after purchasing an additional 20,000 shares in the last quarter. Venture Visionary Partners LLC bought a new stake in Eos Energy Enterprises during the 3rd quarter valued at about $59,000. Duncan Williams Asset Management LLC bought a new stake in shares of Eos Energy Enterprises in the third quarter worth approximately $62,000. Finally, American International Group Inc. grew its stake in shares of Eos Energy Enterprises by 41.2% in the first quarter. American International Group Inc. now owns 75,555 shares of the company’s stock worth $78,000 after acquiring an additional 22,056 shares during the period. Hedge funds and other institutional investors own 54.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus restated a “buy” rating and set a $6.00 target price on shares of Eos Energy Enterprises in a research report on Wednesday, August 21st. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $3.67.

Eos Energy Enterprises Stock Up 8.9 %

Eos Energy Enterprises stock opened at $3.18 on Wednesday. The company has a market cap of $689.14 million, a price-to-earnings ratio of -4.61 and a beta of 2.38. The firm’s fifty day moving average is $2.84 and its 200 day moving average is $1.83. Eos Energy Enterprises, Inc. has a 52-week low of $0.61 and a 52-week high of $3.66.

Eos Energy Enterprises (NASDAQ:EOSE) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.11). The company had revenue of $0.90 million for the quarter, compared to the consensus estimate of $4.38 million. On average, equities research analysts anticipate that Eos Energy Enterprises, Inc. will post -0.78 earnings per share for the current fiscal year.

Insider Buying and Selling at Eos Energy Enterprises

In other news, Director Jeffrey S. Bornstein sold 30,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $2.62, for a total value of $78,600.00. Following the transaction, the director now directly owns 84,929 shares in the company, valued at approximately $222,513.98. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Joe Mastrangelo purchased 52,800 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was acquired at an average cost of $1.43 per share, with a total value of $75,504.00. Following the completion of the transaction, the chief executive officer now owns 909,793 shares in the company, valued at $1,301,003.99. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Jeffrey S. Bornstein sold 30,000 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $2.62, for a total transaction of $78,600.00. Following the sale, the director now directly owns 84,929 shares of the company’s stock, valued at approximately $222,513.98. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.80% of the company’s stock.

Eos Energy Enterprises Profile

Eos Energy Enterprises, Inc designs, manufactures, and markets zinc-based energy storage solutions for utility-scale, microgrid, and commercial and industrial (C&I) applications in the United States. The company offers Znyth technology battery energy storage system (BESS), which provides the operating flexibility to manage increased grid complexity and price volatility.